This Bear market

[allfromacell]

BTC has very strongly correlated with the Nasdaq this downturn which makes sense as a lot of the investors are the same.

I've been following the correlation closely and from what I've seen in almost every case BTC has been following the nasdaqs lead in terms of direction which again isn't surprising.

Happy to hold and add BTC on a weekly basis along with other beaten on tech stocks. It's worth pointing out that BTC probably wouldn't survive a 10 year bear market like a well run cash flow positive business would...

[Azz]

I've been following the correlation closely and from what I've seen in almost every case BTC has been following the nasdaqs lead in terms of direction

I agree except for the recent crash in US stocks. My research showed that in this instance stocks started their down after Bitcoin. I also disagree with the wording "following"; it might not be as simple as that.

I should add that this correlation could end at any time.

It's worth pointing out that BTC probably wouldn't survive a 10 year bear market like a well run cash flow positive business would...

It's my view Bitcoin would not only survive a 10-year bear market but it would also become much stronger in relation to whatever was causing the 10-year bear market in the first place.

[Azz]

stocks started their down after Bitcoin

I have a few - unprovable - theories as to why this may have happened. One of them is the massive short interest we've seen in the US stock market may have been funded with crypto sales (to back as much margin as possible).

[Azz]

I have a few - unprovable - theories as to why this may have happened. One of them is the massive short interest we've seen in the US stock market may have been funded with crypto sales (to back as much margin as possible).

Why is this important? Because it shows an asset was sold not because of a fundamental flaw in that asset but because it *could be sold* (if held), to help provide collateral for an even better play: shorting the overvalued US stock market, just before it tumbled, and then all the way down. When shorts cover, Bitcoin will hold where it stands at that point. They *are* covering and that point is $20k. We have reached BTC bottom in this cycle, at $20k.

[SailorRob]

Why is this important? Because it shows an asset was sold not because of a fundamental flaw in that asset but because it *could be sold* (if held), to help provide collateral for an even better play: shorting the overvalued US stock market, just before it tumbled, and then all the way down. When shorts cover, Bitcoin will hold where it stands at that point. They *are* covering and that point is $20k. We have reached BTC bottom in this cycle, at $20k.

It ain't an asset.

[allfromacell]

It ain't an asset.

Azz right now:

https://twitter.com/bitcoinandmemes/...wEwpqPjBw&s=19

[ralph]

It ain't an asset.

Its probably an asset for azz ,that's why he has come on to the nzx forum pumping it soo much in the vain hope someone will foolishly buy some & help reflate the the price

[Azz]

It ain't an asset.

Your opinion on Bitcoin is ignorant and irrelevant.

The asset that is Bitcoin has a market cap currently twice as big as New Zealand's GDP, with an associated massive ecosystem of entrepreneurship, and huge trade volume across multiple exchanges.

[Azz]

Its probably an asset for azz ,that's why he has come on to the nzx forum pumping it soo much in the vain hope someone will foolishly buy some & help reflate the the price

I'm calling bottom for Bitcoin. You should think about what that means.

[Azz]

Bitcoin haters have two common traits: sociopathy, and did not buy Bitcoin when it was cheap.